Forex
Gold Finds Support at 200-Day EMA as Bullish Skew Persists
Gold has found support around its 200-day EMA as futures positioning strengthens and options traders retain a relatively bullish skew.
The setup keeps the prospect of another push towards $5,000 alive, with net-long exposure to gold futures continuing to trend higher.
The gold price has been pulled back by the US dollar rally, which formed a doji around its 50-day EMA to hint at resistance holding over the near term.